Budget 2021 continues to prioritize investments that help B.C. respond to the pandemic and to prepare for a strong recovery. These investments build on the over $10 billion that has been provided to support people, businesses and communities since the pandemic began.
STRONG ECONOMIC RECOVERY AND INVESTING IN OUR FUTURE
STRONG ECONOMIC RECOVERY AND INVESTING IN OUR FUTURE
Budget 2021 will ensure the right infrastructure is in place by making critical upgrades to hospitals and health facilities, schools, and highway and transit projects.
Budget 2021 provides a record $26.4 billion in tax payer-supported capital investments that are expected to create over 85,000 jobs over the three year plan.
These investments build on the already historic investments government has made toward critical infrastructure. It focuses on both existing projects so that people can get back to work right away and supporting the foundation of long-term recovery through new investments in the transportation, health and education sectors.
Budget 2021 also invests:
- $40 million to provide high-speed internet and cellular coverage for more rural and remote communities, including Indigenous communities.
- $83 million in operating and capital funding for BC Parks to expand and improve trails and backcountry infrastructure, add new campsites, purchase new land to expand parks, improve the Discover Camping reservation system, and support existing park infrastructure.
- $30 million to support initiatives to mark B.C.’s 150th anniversary of entry into confederation.
Budget 2021 includes $500 million in financing over three years for the InBC Strategic Investment Fund to attract and anchor high-growth business, talent and good jobs in B.C. There is also $100 million of the Small- and Medium-sized Business Grant funding announced in the fall targeted at tourism operators.
Preparing B.C. for a greener recovery with CleanBC
Budget 2021 builds on the progress we’ve made creating a cleaner, stronger economy by investing an additional $506 million to reduce emissions, invest in clean energy and cleantech, and prepare for climate change. Through the StrongerBC Economic Recovery Plan, we invested $190 million in climate change projects to support jobs and a cleaner, more resilient economic recovery. Funding added in Budget 2021 brings the total CleanBC allocation, including StrongerBC, to nearly $2.2 billion since 2019/20.
These investments will reduce emissions in transportation, support low-carbon innovation, restore and protect critical watersheds and habitat, and tackle climate change while preparing for its impacts.
Cleaner transportation
Continued investments in the transition to cleaner vehicles with $130 million to support incentives for zero emissions vehicles, electric charging stations, technological development, and the electrification of school buses, ferries and government fleets, including:
- $94 million in the Go Electric program, which provides rebates for purchases of zero-emissions vehicles, charging stations and supports the commercialization of heavy-duty vehicles.
- $18 million to support active transportation infrastructure like bike lanes, sidewalks, and multi-use pathways.
- A PST exemption on electric bikes that will save British Columbians an estimated $7 million annually.
- $10 million to further develop policy on reducing the carbon intensity of fuel and developing the hydrogen economy here in B.C.
Better buildings, stronger communities
Budget 2021 is supporting cleaner, stronger communities with increased funding for energy efficiency in buildings, better city planning, and the reduction of diesel-use in remote and Indigenous communities.
Working with industry and cleantech
- $96 million for the CleanBC Program for Industry to reduce emissions, further expand British Columbia’s clean tech sector and support global competitiveness in the clean economy.
- $60 million to support the Centre for Innovation and Clean Energy and for cleantech investments to expand partnership opportunities with the federal government.
- The Centre for Innovation and Clean Energy will support the development and commercialization of clean technology in B.C. – creating good jobs and accelerating technology development to help transition to a low-carbon future.
- $4 million to allow the Climate Action Secretariat to help develop climate action measures that support clean, inclusive economic growth.
Climate adaptation and preparedness
The Province continues to invest in forward-looking initiatives to support climate preparedness and adaptation with $6 million to support the first phase of B.C.’s Climate Preparedness and Adaptation Strategy to better respond to climate risk and reduce the impact of climate change over time.